STRATEGIC PARTNERS
March 21, 2002
SAN FRANCISCO -- Japan's Postal Savings Bureau operates 24,000 proprietary ATMs, meaning they only accept domestically-produced magnetic striped cards.
Visa International, a leader in the global card distribution market, wants to see those ATMs opened up to accept its cards. So, Visa has issued a formal request to Japan's Ministry of Posts and Telecommunications to enable the acceptance of international payment cards through the Postal Savings Bureau's ATM network.
Malcolm Williamson, Visa International's President and Chief Executive Officer, wrote a letter to the Minister of Posts and Telecommunications stressing the importance of boosting the globalization of its ATM network in light of Japan's involvement in hosting future international events.
"The number of ATMs in Japan that accept cards issued outside of Japan remains relatively low, at around 600," Williamson wrote, according to news reports. "Acceptance of internationally issued cards at the 24,000-strong Postal Saving Bureau ATM network would represent a truly significant step in the development of global financial services in Japan."
Visa is Japan's leading card payment brand in Japan. It has developed a relationship with the Ministry of Posts' Postal Savings Bureau since it introduced Ministry of Posts/ Credit Saison co-brand Visa card in March 1999. The co-brand card has credit, debit and cashing functions and provides 1.1 million cardholders access to their postal bureau deposit accounts internationally.
